GIFT Nifty signals yet another cautious optimistic start — perfectly aligning with our “Call of the Day,” which suggests that bullish investors would aim to step-in amidst 2-positive catalysts:
1) US stock futures continue to enjoy strong session even after a spectacular rebound witnessed in overnight trade.
2) US lawmakers are nearing a deal to end the record-long government shutdown.
Bottom-line: The sentiments could tilt towards Nifty’s bullishness only if FIIs selling is off the front pages. Technically, confirmation of strength will only come once Nifty closes above the 25,807 mark.
7:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (+41, 25707)
Dow Futures: (+51, 47420)
Nasdaq 100 Futures (+66, 25678)
Nikkei (+321, 51235)
Hang Seng (+99, 26748)
Dow Jones (+382, 47369)
Nasdaq Composite (+523, 23527)
Bovespa (+1194, 155257).
WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
Wall Street shoots out of the gate in Monday’s trade and most importantly, holds gains into the close.
The Positive Catalyst: Signs that US lawmakers are nearing a deal to end the record-long government shutdown.
As on Monday’s close, the blue-chip Dow Jones Industrial Average was up 0.8% at 47,368, the broader S&P 500 was 1.5% higher at 6,832, and the tech-heavy Nasdaq Composite had gained 2.3% to 23,527.
Gold prices ($4127 per ounce) climbed, hovering now near its highest level since October 24, driven by growing expectations of a Federal Reserve interest rate cut in December, despite policymakers’ efforts to downplay the likelihood of such a move.
WTI crude oil futures ($59.95) continue to be under pressure recently from expectations that global supply will outpace demand, with OPEC and its allies, including Russia, easing output curbs ahead of a planned pause in hikes next quarter.
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